| |
Tier
I Basic |
Tier
I Alternate |
Tier
II |
| Net Tangible Assets |
$4 million |
$12 million |
$2 million |
| Net Income |
$750,000 pre-tax and $400,000
net in most recent year or 2 of 3 most recent years |
No requirement |
Demonstrated ability to produce
adequate net earnings |
| Working Capital |
No requirement |
No requirement |
Adequate |
| Years in Business |
No requirement |
Must be currently active and
must have been active for past three consecutive years |
Must be currently active and
must have been active for past three consecutive years |
| Public Shares |
500,000 with 800 holders;if
over 1,000,000 shares minimum is 400 holders |
1,000,000 |
250,000 |
| Stockholders |
See public shares |
400 |
500 |
| Stock Price |
$5 at time of application and
$5 closing bid for a majority of business days for most recent 6
months |
$3 at time of application and
$3 closing bid for a majority of business days for most recent 6
months |
No requirement |
| Market Value of Public Shares |
$3 million |
$15 million |
No requirement |
| Qualitative Requirements |
Two independent directors;
audit committee depositary eligibility; management of good character,
etc. |
Two independent directors;
audit committee depositary eligibility; management of good character,
etc. |
Two independent directors;
audit committee depositary eligibility; management of good character,
etc. |
For additional
Listing Requirement information, please contact Eileen
Daut, 312-663-2581
|
